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Market Research Projects Legal Cannabis Industry to Benefit From New Businesses

A report published by Arcview Market Research indicates that the legal cannabis industry will grow at 22% CAGR in 2017, as the eight states that voted to open or expand their cannabis markets on Election Day in November 2016, will work to implement new businesses, programs and products. According to the report the industry accelerated at a remarkable pace in 2016. North American consumers spent $6.7 billion on legal cannabis products, which represents an increase of 34% from 2015. The data forecasts the legal cannabis industry will grow robust 27% CAGR to $22.6 billion by 2021. NutraFuels Inc. (OTC: NTFU), Medical Marijuana, Inc. (OTC: MJNA), Easton Pharmaceuticals, Inc. (OTC: EAPH), OWC Pharmaceutical Research Corp. (OTC: OWCP), PotNetwork Holding, Inc. (OTC: POTN )

The report also focused on the innovation, which is the natural outcome of a new legalized market. “Cannabis is now legally